Correlation Between Harvest Fund and China World
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By analyzing existing cross correlation between Harvest Fund Management and China World Trade, you can compare the effects of market volatilities on Harvest Fund and China World and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Harvest Fund with a short position of China World. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and China World.
Diversification Opportunities for Harvest Fund and China World
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Harvest and China is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and China World Trade in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China World Trade and Harvest Fund is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Harvest Fund Management are associated (or correlated) with China World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China World Trade has no effect on the direction of Harvest Fund i.e., Harvest Fund and China World go up and down completely randomly.
Pair Corralation between Harvest Fund and China World
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 1.65 times more return on investment than China World. However, Harvest Fund is 1.65 times more volatile than China World Trade. It trades about 0.55 of its potential returns per unit of risk. China World Trade is currently generating about -0.19 per unit of risk. If you would invest 269.00 in Harvest Fund Management on October 16, 2024 and sell it today you would earn a total of 60.00 from holding Harvest Fund Management or generate 22.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. China World Trade
Performance |
| Timeline |
| Harvest Fund Management |
| China World Trade |
Harvest Fund and China World Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and China World
The main advantage of trading using opposite Harvest Fund and China World positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, China World can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in China World will offset losses from the drop in China World's long position.| Harvest Fund vs. Easyhome New Retail | Harvest Fund vs. Bank of Communications | Harvest Fund vs. Silkroad Visual Technology | Harvest Fund vs. China Satellite Communications |
| China World vs. Qilu Bank Co | China World vs. Financial Street Holdings | China World vs. Harvest Fund Management | China World vs. Huaxia Fund Management |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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